Epoch Investment Partners Inc. Sells 202,342 Shares of Lazard, Inc. $LAZ

Epoch Investment Partners Inc. decreased its holdings in shares of Lazard, Inc. (NYSE:LAZ) by 12.9% in the 1st quarter, Holdings Channel reports. The fund owned 1,360,866 shares of the asset manager’s stock after selling 202,342 shares during the period. Epoch Investment Partners Inc.’s holdings in Lazard were worth $57,810,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in LAZ. AQR Capital Management LLC grew its holdings in shares of Lazard by 131.8% during the 1st quarter. AQR Capital Management LLC now owns 12,563 shares of the asset manager’s stock valued at $544,000 after purchasing an additional 7,144 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Lazard by 27.5% during the first quarter. Goldman Sachs Group Inc. now owns 759,867 shares of the asset manager’s stock worth $32,902,000 after buying an additional 163,983 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Lazard by 8.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 238,288 shares of the asset manager’s stock valued at $10,318,000 after acquiring an additional 18,444 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Lazard by 167.0% during the 2nd quarter. American Century Companies Inc. now owns 26,097 shares of the asset manager’s stock valued at $1,252,000 after acquiring an additional 16,322 shares in the last quarter. Finally, Prudential Financial Inc. boosted its stake in shares of Lazard by 62.4% during the second quarter. Prudential Financial Inc. now owns 7,102 shares of the asset manager’s stock valued at $369,000 after purchasing an additional 2,730 shares in the last quarter. Institutional investors own 54.80% of the company’s stock.

Lazard Stock Performance

Shares of LAZ stock opened at $44.21 on Friday. The stock has a market capitalization of $4.94 billion, a PE ratio of 21.67, a PEG ratio of 0.64 and a beta of 1.43. The business’s 50 day simple moving average is $44.24 and its 200 day simple moving average is $46.78. The company has a debt-to-equity ratio of 1.87, a current ratio of 2.84 and a quick ratio of 3.51. Lazard, Inc. has a one year low of $38.67 and a one year high of $58.75.

Lazard (NYSE:LAZ) last released its quarterly earnings results on Thursday, July 23rd. The asset manager reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.22). The firm had revenue of $786.02 million for the quarter, compared to the consensus estimate of $736.29 million. Lazard had a return on equity of 23.58% and a net margin of 6.95%.The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.52 EPS. As a group, research analysts forecast that Lazard, Inc. will post 2.63 earnings per share for the current year.

Lazard Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be issued a $0.50 dividend. The ex-dividend date is Monday, August 3rd. This represents a $2.00 annualized dividend and a yield of 4.5%. Lazard’s payout ratio is presently 79.05%.

Key Stories Impacting Lazard

Here are the key news stories impacting Lazard this week:

• Positive Sentiment: Lazard expanded its buyback plan while continuing to grow Asset Management revenue and assets under management, which supports the long-term capital return and earnings story. LAZ Stock Down as Q2 Earnings Lag on Higher Costs, Expands Buyback Plan
• Positive Sentiment: The company reiterated a long-term revenue target for Lazard Capital and outlined productivity goals, including higher revenue per managing director, suggesting management is focused on improving margins. Lazard targets $10m per MD by 2028 as it reiterates $500m Lazard CL 2027 revenue plan
• Neutral Sentiment: CEO Peter Orszag said AI should make future deal teams “leaner,” reinforcing the firm’s cost-efficiency push, but the impact on near-term results is still uncertain. Lazard CEO Orszag: AI will lead to ‘leaner’ deal teams with more MDs
• Neutral Sentiment: Lazard declared a quarterly dividend, which may appeal to income investors, but it is not a major fresh catalyst for the stock. Lazard earnings report and conference call
• Negative Sentiment: Q2 earnings missed expectations, with EPS of $0.12 versus estimates around $0.34-$0.42, reflecting pressure from weaker Financial Advisory revenue and higher expenses. Lazard (LAZ) Q2 Earnings Miss Estimates
• Negative Sentiment: Profit fell sharply year over year, with reports pointing to a 91% decline in quarterly profit due to a higher tax rate and volatility in the advisory business, which likely weighed on sentiment. Lazard profit plunges on elevated tax rate, financial advisory volatility
• Negative Sentiment: Keefe, Bruyette & Woods cut its price target on LAZ to $42 and kept a market-perform rating, signaling limited near-term upside. Benzinga report on Lazard price target cut

Analyst Ratings Changes

A number of brokerages recently issued reports on LAZ. Citizens Jmp dropped their price objective on shares of Lazard from $65.00 to $60.00 and set a “market outperform” rating for the company in a report on Friday, April 10th. Morgan Stanley set a $44.00 price target on shares of Lazard in a research report on Friday. Zacks Research raised shares of Lazard from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Argus reduced their price objective on shares of Lazard from $63.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, May 5th. Finally, Citigroup restated a “market outperform” rating on shares of Lazard in a report on Friday. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $50.38.

Lazard Company Profile

Lazard Ltd. (NYSE: LAZ) is a leading global financial advisory and asset management firm, offering a comprehensive suite of services to corporations, governments and individuals. Founded in 1848, Lazard has built a reputation for providing independent advice and innovative solutions in complex financial transactions. The firm is publicly traded on the New York Stock Exchange under the ticker symbol LAZ and maintains its headquarters in Hamilton, Bermuda.

In its Financial Advisory segment, Lazard assists clients with mergers and acquisitions, restructurings, capital structure optimization and strategic planning.